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June 25, 2014
05:31 EDTSQBGSequential Brands acquires Galaxy Brand for $100M cash, 13.75M shares
Sequential Brands announced that it has signed a definitive agreement to acquire Galaxy Brand Holdings for $100M in cash, 13.75M shares of common stock of the company, and certain performance based warrants. The transaction, which is expected to close by the end of 2014, is subject to customary closing conditions and regulatory approval. Sequential will acquire four consumer brands that include the fitness brand Avia, basketball brand AND1, outdoor brand Nevados, and home goods brand Linens 'N Things. On a combined basis post-closing, the company is projecting forward 12-month royalty revenues of $56M- $60M, $36M-$40M of adjusted EBITDA, and 32c-38c of earnings per share from the total brand portfolio of 12 brands. Sequential has obtained committed financing from Bank of America and GSO Capital Partners, an affiliate of Blackstone Group. The company will be replacing its existing debt facilities with new first lien and second lien debt facilities totaling approximately $180M. Upon completion of this transaction, the company's diluted share count will be approximately 40M. The transaction is expected to be immediately accretive.
News For SQBG From The Last 14 Days
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June 26, 2015
09:12 EDTSQBGPlymouth Lane urges Martha Stewart to conduct 'robust' process during go-shop
Plymouth Lane Capital, a holder of a 10.9% stake in Martha Stewart Living Omnimedia, stated in a regulatory filing that the investor intends to engage in a constructive dialogue with the company's management, board, and other relevant parties or stakeholders, regarding matters that may include, without limitation, steps to maximize shareholder value and to "encourage a timely, proactive, and robust marketing process" in order to obtain acquisition proposals during the "go-shop period" as set forth in its previously announced merger agreement with Sequential Brands Group (SQBG).
June 25, 2015
06:20 EDTSQBGMeredith, Iconix among those looking at Martha Stewart, NY Post reports
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June 23, 2015
08:03 EDTSQBGMartha Stewart a great addition to Sequential Brands, says Brean Capital
Brean Capital said Martha Stewart (MSO) is a great addition to Sequential Brands' (SQBG) portfolio citing its brand awareness and the diversification of its platform. The firm believes many of its brands are in the early stages of organic growth and thus sees upside to the company's estimates. Brean Capital reiterated its Buy rating and raised its price target to $21 from $17 on Sequential Brands shares.

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